S&P500 falls for the 5th day in succession $DXc1
- Published: 27 September 2012
- US stocks were again weaker overnight as the similar theme of European uncertainty caused investors to take a cautious approach as protests and strikes across Greece and Spain reminded financial markets that Europe's debt problems are far from over. Spanish bond yield jumped above 6%
- Energy and technology stocks were again weaker overnight on the S&P500 as investors moved out of these sectors and into the relative safety of utilities
- New Home Sales were down slightly in August but remain at two year highs
- Blackberry maker RIMM rallied again overnight up 6.06% after it surprisingly announced that it added more subscribers to its network than expected and also noted that its new smart phone will go on sale in early 2013
- Dean Foods rallied 5.46% as its seeks a buyer for its Morningstar dairy unit. The asset is expected to net the company approximately USD1.00 Billion
- DOW –0.33%, S&P500 –0.57% and NASDAQ –0.77%
- Risk currencies were under pressure with the US Dollar Index moving higher
- Gold was weaker due to the stronger USD. Crude fell 0.6% on European concerns however Middle East tensions hedged against further losses
